😂😂$SNDK Could it fall to 1,200 at the very least? Listen to what Lao Sen has to say!!
I’ve been keeping a close eye on SK hynix these past few days, but completely overlooked SanDisk’s market setup. So now I, Lao Sen, will give you a quick rundown. If you’re thinking of investing in SanDisk, make sure to read on carefully👇👇
Looking at the price action, SanDisk has fallen steadily from around 1,500 at its peak, reaching a low of 1,325.55. Don’t assume that just because it has bounced recently and posted a few small bullish candles, buyers are continuing to enter the market. That’s not the case. This is clearly a technical rebound after a sharp drop, not a signal of a trend reversal.
You can tell from the moving averages: the price has only managed to edge above the 7-day moving average, while the 30-day moving average at 1,400 remains firmly overhead. The steep downtrend is clear, and each rebound is an opportunity for bears to re-enter.
As for fundamentals and capital flows, CPI has driven up rate-hike expectations, putting heavy pressure on tech stocks. On top of that, the rollout of 4F2 storage technology is raising expectations of increased supply. Institutional funds have continued to flow out, and part of this decline is due to institutions cashing out in force. So the downward trend is likely to continue.
Trading suggestions:
More cautious investors can wait for the price to rebound to around 1,380–1,400 and show resistance before entering short positions. More aggressive investors can open an initial short position at the current price and add to it if the price rebounds. Place a stop-loss above 1,400. The first target is 1,325; if that level breaks, look to 1,280. In the longer term, the target is 1,200.
That’s my take on SanDisk and my trading suggestions. If you’re still unsure how to trade it, come join my chat group and we can discuss it together!!
#BTC跌破8.1万美元 #交易员押注美联储再加息三次 #比特币再次跌破8.3万美元 $SKHYNIX $MU
I’ve been keeping a close eye on SK hynix these past few days, but completely overlooked SanDisk’s market setup. So now I, Lao Sen, will give you a quick rundown. If you’re thinking of investing in SanDisk, make sure to read on carefully👇👇
Looking at the price action, SanDisk has fallen steadily from around 1,500 at its peak, reaching a low of 1,325.55. Don’t assume that just because it has bounced recently and posted a few small bullish candles, buyers are continuing to enter the market. That’s not the case. This is clearly a technical rebound after a sharp drop, not a signal of a trend reversal.
You can tell from the moving averages: the price has only managed to edge above the 7-day moving average, while the 30-day moving average at 1,400 remains firmly overhead. The steep downtrend is clear, and each rebound is an opportunity for bears to re-enter.
As for fundamentals and capital flows, CPI has driven up rate-hike expectations, putting heavy pressure on tech stocks. On top of that, the rollout of 4F2 storage technology is raising expectations of increased supply. Institutional funds have continued to flow out, and part of this decline is due to institutions cashing out in force. So the downward trend is likely to continue.
Trading suggestions:
More cautious investors can wait for the price to rebound to around 1,380–1,400 and show resistance before entering short positions. More aggressive investors can open an initial short position at the current price and add to it if the price rebounds. Place a stop-loss above 1,400. The first target is 1,325; if that level breaks, look to 1,280. In the longer term, the target is 1,200.
That’s my take on SanDisk and my trading suggestions. If you’re still unsure how to trade it, come join my chat group and we can discuss it together!!
#BTC跌破8.1万美元 #交易员押注美联储再加息三次 #比特币再次跌破8.3万美元 $SKHYNIX $MU